5 Ways to Avoid Bitcoin Scams

[xbiv2]

6. Dont deal with Tether (USDT)

Tether (USDT) is scam (fake) USD, can crash any monent.

[LordAltcoin]

To add to some great points here, some of which have been touched upon briefly.

1. You Tube "promoters" = Scammers.

Check out this list > https://www.reddit.com/r/CryptoCurrency/comments/7y3xtr/this_will_be_the_blacklist_of_crypto_youtube/

  *Except for some of the guys who talk about charts and actually try and educate people  "The Chart Guys" are pretty decent, for example.

2. People on Social Media who use the term "Blockchain Entrepreneur" (lol's) Stay away from these "pretenders".  

3. ICO's  Simply do NOT invest in ICO's, maybe 1 in 10 will generate profits, most are scams, much better to pick older,  PROVEN altcoins.

4. If it is "Too good to be true" It is! Avoid!  (Really, so i invest my BTC and you promise i will gain $xxx in just a few days wow)

5.  NEVER, EVER... go "All In"  You will get REKT  (in the end).


Good luck and i wish your bags will grow large and the Bitcoin will Blossom.

[awik p]

So bitcoin is famous right now and many people will do anything just to get to other people. Everyone must aware, specially for newbies.

i think indeed with a marketcap that is so big, it seems difficult to say a scam, because bitcoin holders have been spread. for that, for beginners are investing in btc are safest

[xvacator]

6. Dont deal with Tether (USDT)

Tether (USDT) is scam (fake) USD, can crash any monent.

But I see that many people convert their bitcoin to tether so they can rebuy bitcoin if the price is down. I think tether is not a scam because I see that tether can bring us a profit too. But besides tether, I think we have another option which is USDC, and we can trade this pair bitcoin. I think tether is the most stable compared with the other coin so we can sell bitcoin to get tether if bitcoin price increases.

[adrgmz95]

I was close to believing a scam pretending to be affiliated with Binance. The profit was too good to be true and anyone naive will fall prey to this lie. If you are suspecting that an investment is a scam, be patient and take a step back to research first before making any move.

Always err on the side of caution as it is your own hard earned money you are protecting. And as already said by few members, don't be greedy. Greedy people don't tend to think clearly. They are too blinded with the promise of huge profits in a short amount of time. They often ignore the warning signs in front of them. And that's how scammers get them.

[Vinz1978]

This is a good write up for those that are new in community it will really help and prevent them form being victims of scamers

Indeed, this was a big help to any of the member in the forum. Good job mate on this one
Perhaps, in regardless of what you had stated on page 1 it was all true and majority of us here encountered those ways.
Honestly, I think scams also will not be disappear as long there is a victim for it. Just let us be careful to those people who are scammers
who are asking for money, and let us not get easily hype there sweet words, lets be observant and aware for it.

[FedorIzmailov]

it is often our own fault that we are being flustered and we are losing money. do not overwhelm with safety equipment and always install 2fa

[giantrobot]

Thank you for the contributions from your post. This will probably help newbies get more knowledge to protect themselves.
In addition, I recommend using Mac OS. This is a secure operating system before the attacks.

[nuraziaaziz]

As interest in digital currencies increases such as Bitcoin, more and more Bitcoin scams promise high returns. Unrealistic lure is clearly a mere cover, and usually ends with the loss of clients' funds. Fraud often spreads in social circles based on trusted relationships. Therefore, we must be aware that there are cunning fraudsters who can actively seek ways to deceive with absurd tricks and offers.

How to avoid bitcoin scams :

1. Know What You Are Facing

You don't need to rush to decide whether an investment product is a scam or not. All you need to do is, take a moment to find complete information about the project. The easiest way to do this is to find information in the form of company details or Whitepaper (if ICO), and other things related to the investment product. Learn all the details carefully and do some research on testimonials, comments, and so on. Another way is to join a Bitcoin forum like Bitcointalk, and immediately ask for credibility of an investment product or company to other members.

2. Avoid Unrealistic Offerings

Usually, crypto currency fraud can disguise its identity by using a social media account or advertising banner that looks professional. Mark Steward, director of FCA law enforcement, explained that when people become more skeptical of the real world regarding investment and consumer habits have changed, investment fraud has moved into the realm of Online and social media.

How to avoid this Bitcoin Scam is, you are better selective about all investment offerings from the Online platform that you did not ask for, whether through social media, email, or even by telephone. Even if it looks official, pay attention to how it is offered. Con artists usually dare to promise high profits to lure victims. So if you feel the promise of profits is unrealistic, immediately ignore the proposed offer.

3. Beware of Phising Web Pages

Increased interest in crypto currencies makes many new investors enter the market. Lots of land in a fake landing page that claims to be a popular digital currency exchange platform. One example is the one that uses the Punycode technique. Through this method, the fake domain 'xn - inance-hrb [dot] com' can be displayed as 'ƅinance [dot] com'. This technique is usually able to deceive consumers, because web pages can look really like the original. You can overcome this by being aware of vulnerabilities that exist in internet browsers, such as Chrome, Firefox, and Opera,

4. Beware of Fake Digital Wallets

Fake virtual wallets often appear online or at the mobile app store. In the example of a fake Wallet fraud that happened, more than $ 3.3 million was stolen from users who want to claim their Bitcoin Gold. To anticipate similar events, many Bitcoin Wallet providers caution clients to be aware of the cloning of scammers who want to steal victim funds by imitating their appearance.

MyEtherWallet for example, warns customers about fake MyEtherWallet in December. In addition, before choosing a digital wallet provider, do research first. Please share opinions on leading crypto forums, both local and foreign. In essence, only use the Wallet provider with a good track record.

5. Beware of Bitcoin Thief Malware

Malware is something that concerns computer owners. But now, a new category of malware capable of stealing Bitcoin-related data has appeared. Malware authorized by the computer owner is able to record typing or search for a file with the keyword "Account", "Password", "Bitcoin", "Wallet", or other keywords specified by the author, then upload the file to an anonymous server automatically.

In addition, there is also a malware that seeks to absorb the computing power of computer users to mine crypto. Anticipating this, YouTube is trying to deactivate ads that take computing power to mine crypto currencies. It is believed, after users see the related ad videos, the computer becomes slow and there will be warnings from anti-virus programs. Malware like this can steal up to 100% of computing power to mine crypto currencies (generally Monero). The solution that can be applied here is to install strong anti-virus protection and active Firewall to protect the computer.

What are the other ways we can do besides that to ensure that we are safe from being scams?

[TheWalkingCoin]

Now many way could make our bitcoin and altcoin balance lost by hecked, we have make safety is first for all of my coin save on exchange, we have always use correct link website for keep away from phising or fake website exchange.

[pinoyden]

What you listed is good,but for newborn's,they should just be careful with the passwords,sites, use 2fa,Google authentication,

not only for newborns or noobs but that safety precautions can also be applied for veterance and experienced crypto enthusiasts . 2fa's are also a good alternative for making our accounts more secure but in my case i dont really use 2fa authentication because i find it hassel and besides i dont really have a huge balances on my crypto wallets .

the only way to avoid scams is avoid joining investment programs that ask for payments because that is too obvious that they were only scam . instead we should only invest on our own .

[jaaeeeyyyy]

As interest in digital currencies increases such as Bitcoin, more and more Bitcoin scams promise high returns. Unrealistic lure is clearly a mere cover, and usually ends with the loss of clients' funds. Fraud often spreads in social circles based on trusted relationships. Therefore, we must be aware that there are cunning fraudsters who can actively seek ways to deceive with absurd tricks and offers.

How to avoid bitcoin scams :

1. Know What You Are Facing

You don't need to rush to decide whether an investment product is a scam or not. All you need to do is, take a moment to find complete information about the project. The easiest way to do this is to find information in the form of company details or Whitepaper (if ICO), and other things related to the investment product. Learn all the details carefully and do some research on testimonials, comments, and so on. Another way is to join a Bitcoin forum like Bitcointalk, and immediately ask for credibility of an investment product or company to other members.

2. Avoid Unrealistic Offerings

Usually, crypto currency fraud can disguise its identity by using a social media account or advertising banner that looks professional. Mark Steward, director of FCA law enforcement, explained that when people become more skeptical of the real world regarding investment and consumer habits have changed, investment fraud has moved into the realm of Online and social media.

How to avoid this Bitcoin Scam is, you are better selective about all investment offerings from the Online platform that you did not ask for, whether through social media, email, or even by telephone. Even if it looks official, pay attention to how it is offered. Con artists usually dare to promise high profits to lure victims. So if you feel the promise of profits is unrealistic, immediately ignore the proposed offer.

3. Beware of Phising Web Pages

Increased interest in crypto currencies makes many new investors enter the market. Lots of land in a fake landing page that claims to be a popular digital currency exchange platform. One example is the one that uses the Punycode technique. Through this method, the fake domain 'xn - inance-hrb [dot] com' can be displayed as 'ƅinance [dot] com'. This technique is usually able to deceive consumers, because web pages can look really like the original. You can overcome this by being aware of vulnerabilities that exist in internet browsers, such as Chrome, Firefox, and Opera,

4. Beware of Fake Digital Wallets

Fake virtual wallets often appear online or at the mobile app store. In the example of a fake Wallet fraud that happened, more than $ 3.3 million was stolen from users who want to claim their Bitcoin Gold. To anticipate similar events, many Bitcoin Wallet providers caution clients to be aware of the cloning of scammers who want to steal victim funds by imitating their appearance.

MyEtherWallet for example, warns customers about fake MyEtherWallet in December. In addition, before choosing a digital wallet provider, do research first. Please share opinions on leading crypto forums, both local and foreign. In essence, only use the Wallet provider with a good track record.

5. Beware of Bitcoin Thief Malware

Malware is something that concerns computer owners. But now, a new category of malware capable of stealing Bitcoin-related data has appeared. Malware authorized by the computer owner is able to record typing or search for a file with the keyword "Account", "Password", "Bitcoin", "Wallet", or other keywords specified by the author, then upload the file to an anonymous server automatically.

In addition, there is also a malware that seeks to absorb the computing power of computer users to mine crypto. Anticipating this, YouTube is trying to deactivate ads that take computing power to mine crypto currencies. It is believed, after users see the related ad videos, the computer becomes slow and there will be warnings from anti-virus programs. Malware like this can steal up to 100% of computing power to mine crypto currencies (generally Monero). The solution that can be applied here is to install strong anti-virus protection and active Firewall to protect the computer.

This points are very useful most especially to the beginners because I know for sure that most investors are already aware of all this investment precocious. In addition I will advice that we should also learn to avoid be greedy looking for huge profit is mainly the cause why scammers do succeed.

This factors really are true but there is just one for me not to be scam using that tagline "Invest on Bitcoin", it is just don't give a shit on that one. Literally don't give a damn on every advertisement instead study the whole blockchain if you really want to know more about the cryptocurrency and most especially bitcoin.

[Amevalentine]

Well, the things you post almost everyone involved and learn about bitcoin for a long time has been known. It is just reasonable and suitable for newbies. New people should read to understand more.

Those tips are very helpful and knowledgeable especially to those who are new and has yrust issues on how to use bitcoin.  I hope many would learn and apply those steps in bitcoin transactions.

for me
1. abide by certain and non-false sources
2 keep watch using the security of your account and wallet
3. Do not be affected in any way or do not immediately be tempted directly before you know right
4. Avoid strange system systems and link links
5. ourselves take care of ourselves and our minds

[Tomcolor]

As interest in digital currencies increases such as Bitcoin, more and more Bitcoin scams promise high returns. Unrealistic lure is clearly a mere cover, and usually ends with the loss of clients' funds. Fraud often spreads in social circles based on trusted relationships. Therefore, we must be aware that there are cunning fraudsters who can actively seek ways to deceive with absurd tricks and offers.

How to avoid bitcoin scams :

1. Know What You Are Facing

You don't need to rush to decide whether an investment product is a scam or not. All you need to do is, take a moment to find complete information about the project. The easiest way to do this is to find information in the form of company details or Whitepaper (if ICO), and other things related to the investment product. Learn all the details carefully and do some research on testimonials, comments, and so on. Another way is to join a Bitcoin forum like Bitcointalk, and immediately ask for credibility of an investment product or company to other members.

2. Avoid Unrealistic Offerings

Usually, crypto currency fraud can disguise its identity by using a social media account or advertising banner that looks professional. Mark Steward, director of FCA law enforcement, explained that when people become more skeptical of the real world regarding investment and consumer habits have changed, investment fraud has moved into the realm of Online and social media.

How to avoid this Bitcoin Scam is, you are better selective about all investment offerings from the Online platform that you did not ask for, whether through social media, email, or even by telephone. Even if it looks official, pay attention to how it is offered. Con artists usually dare to promise high profits to lure victims. So if you feel the promise of profits is unrealistic, immediately ignore the proposed offer.

3. Beware of Phising Web Pages

Increased interest in crypto currencies makes many new investors enter the market. Lots of land in a fake landing page that claims to be a popular digital currency exchange platform. One example is the one that uses the Punycode technique. Through this method, the fake domain 'xn - inance-hrb [dot] com' can be displayed as 'ƅinance [dot] com'. This technique is usually able to deceive consumers, because web pages can look really like the original. You can overcome this by being aware of vulnerabilities that exist in internet browsers, such as Chrome, Firefox, and Opera,

4. Beware of Fake Digital Wallets

Fake virtual wallets often appear online or at the mobile app store. In the example of a fake Wallet fraud that happened, more than $ 3.3 million was stolen from users who want to claim their Bitcoin Gold. To anticipate similar events, many Bitcoin Wallet providers caution clients to be aware of the cloning of scammers who want to steal victim funds by imitating their appearance.

MyEtherWallet for example, warns customers about fake MyEtherWallet in December. In addition, before choosing a digital wallet provider, do research first. Please share opinions on leading crypto forums, both local and foreign. In essence, only use the Wallet provider with a good track record.

5. Beware of Bitcoin Thief Malware

Malware is something that concerns computer owners. But now, a new category of malware capable of stealing Bitcoin-related data has appeared. Malware authorized by the computer owner is able to record typing or search for a file with the keyword "Account", "Password", "Bitcoin", "Wallet", or other keywords specified by the author, then upload the file to an anonymous server automatically.

In addition, there is also a malware that seeks to absorb the computing power of computer users to mine crypto. Anticipating this, YouTube is trying to deactivate ads that take computing power to mine crypto currencies. It is believed, after users see the related ad videos, the computer becomes slow and there will be warnings from anti-virus programs. Malware like this can steal up to 100% of computing power to mine crypto currencies (generally Monero). The solution that can be applied here is to install strong anti-virus protection and active Firewall to protect the computer.

Absolutely right points (Beware of Fake Digital Wallets) totally i agree this points. I see many digital false wallet have been in this market section,it bad react and anytime can be hack our wallet.so we need to avoid to use wallet ,I want to use Bitcoin official wallet and given good safety. 

[DipDare11]

Thank you for advices, because it is they  will help in the future to save themselves from a fraudster or from a stupid incident) Often, by our own stupidity, it happens that we can get into the story with a not very happy ending.

It is not knowing the correct algorithm to work with a particular job - leads to a sad ending. I think that such articles are necessary, because: on the one hand, they protect newcomers from scam projects and, on the other hand, they remind old-timers of the existing danger!

[Barbarian]

Well, the things you post almost everyone involved and learn about bitcoin for a long time has been known. It is just reasonable and suitable for newbies. New people should read to understand more.

You will be surprised by the amount of people that still fall in form of scams that have been known for a very long time, and this is because those people do not really inform themselves of all the ways in which they can lose their money, so it is important to share all the ways in which scammers try to get your money and to try to keep up to date with that information.

[BitcoinHunt3r]

Well, the things you post almost everyone involved and learn about bitcoin for a long time has been known. It is just reasonable and suitable for newbies. New people should read to understand more.

You will be surprised by the amount of people that still fall in form of scams that have been known for a very long time, and this is because those people do not really inform themselves of all the ways in which they can lose their money, so it is important to share all the ways in which scammers try to get your money and to try to keep up to date with that information.

Don't forget people who want to earn money without hard work. That kind of people will always look for investment site that they think  can give them a lot of money without do nothing. That is main reason why scammers still exist.

[Pattart]

I think that all these five ways can be replaced by one - do not participate in the ICO when the market is controlled by bears. This is the most effective way to avoid scam.

Newbie problems are not just about investing scams, but maybe the main problem is. ICO investments are followed by many people including newbies and maybe many of them get scams. there are actually a lot of indicators to avoid ico scams ranging from their team to their project goals, but how to see that ico was made by bears?

[justsimpleram]

This day many scam are pop up and many people are joining on it. This information is a very big help to all of us specially to those people who are just starting yet so that they can avoid scam projects. And for me to avoid scam if the money is very easy to get in there project or the % of your profit you will get is very high avoid it because 100% it's a scam.

[Elqui]

Everyone in cryptocurrency specially in bitcoins should always double check things where they want to invest their money with, they all should make sure that it is a legit company and a trusted one before they invest their money in it.